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TX SB1498
Bill
Status
6/20/2025
Primary Sponsor
Robert Nichols
Click for details
AI Summary
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Expands Texas civil asset forfeiture law to explicitly include digital currency, non-fungible tokens (NFTs), and stablecoins as property subject to seizure as contraband when used in or gained from criminal activity
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Defines "digital currency" as a digital representation of value recorded on a cryptographically secured distributed ledger, including blockchain technology
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Requires law enforcement to transfer seized digital assets within 72 hours to an offline wallet accessible only by the law enforcement agency or prosecuting attorney
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Establishes venue for forfeiture proceedings involving digital assets in the county where the seizing law enforcement agency is located, or in Travis County
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Specifies that "proceeds" from digital currency crimes include any increase in value between the acquisition date and forfeiture date, making appreciation subject to forfeiture
Legislative Description
Relating to civil asset forfeiture of digital currency or other similar property.
Financial
Last Action
Effective on 9/1/25
6/20/2025